In a heavy bottom pan, roast the red rice until aromatic and starts to change color. Make sure that the heat is medium-low as the rice could get burned easily without getting properly roasted. Remove the roasted rice in a bowl and keep aside to cool.
In the same pan, add the cashews and roast them until light brown. Remove this in a separate bowl and keep aside to cool.
Pour melted and strained jaggery into the same pan.
Add grated coconut into it and cook for 2-3 minutes.
In a small mixer or a spice grinder, grind the cooled rice to a smooth powder. In the same grinder, grind the cashews to powder them. Make sure that you just pulse it. Add cardamom powder into it.
Now transfer the ground cashew, ground rice powder into the jaggery grated coconut mix.
Combine well. Turn off the flame.
Once everything is well combined, transfer it to a bowl and start forming tight balls with your palm. We will not need any ghee or fat to bind it. Store in an airtight container for 2 to 3 days at room temperature and if storing further than that, refrigerate it.